Lexington ranks fourth among largest monthly rent increases

LEXINGTON, Ky. (WTVQ) – A new report says Lexington saw one of its highest rent increases in years.

According to Apartment List, rents in Lexington grew 4.6% in June compared to 2.3% nationally. That makes Lexington’s monthly rent change the fourth largest among the nation’s 100 largest cities.

The report also said rent prices in Lexington are more than 13.3% higher than they were one year ago and 14.4% higher than last March before the start of the pandemic.

Currently, the average cost of rent in Lexington is $894 for a one-bedroom apartment and $1,107 for a two-bedroom apartment.

The full report can be found here.